peHUB First Read

Cofee* Bethany McLean: “The five hotshots who took Fortress Investment Group public were worth billions at first. Today they look like arrogant showboats.”

* Venture capital’s ancestral relationship to gambling.

* Morning Call: U.S. futures drop on GM comments, European stocks extend losses, the Nikkei rises 2% and Hong Kong shares drop a percent.

* Why golf is sacred to Wall Streeters.

* Seth Levine’s blog from VC in the Rockies.

* Don’t worry, beer pong is still safe.

* Tesla CEO in digital witch hunt.

* Bain Capital’s Steve Pagliuca seems to believe that the Obama Administration knows what it’s doing with the economy: